HB3434

Oklahoma HB3434 modifies ad valorem tax billing statements to include specific details about tax calculations and assessments.

Oklahoma HB3434 amends the ad valorem tax billing statement requirements. It mandates that the statement include the fair cash value of the property for both the preceding and current years, the assessment percentage used for each year, and whether a net assessed value was used. It also requires an explanation of the difference between gross and net assessed values. The statement must detail the millage rates for each taxing jurisdiction, how to calculate the tax liability, and the tax liability owed to each jurisdiction.